University of Michigan index preliminary January results up over 13% versus December and more than 20% versus last year.
Consumer sentiment soared 13% in January to reach its highest level since July 2021, showing that the sharp increase in December was no fluke. According to University of Michigan Surveys of Consumers Director Joanne Hsu, consumer views were supported by confidence that inflation has turned a corner and strengthening income expectations.
The Index of Consumer Sentiment stood at 78.8, up 13.1% from December and up 21.4% from January 2023.
Consumer sentiment is viewed as a leading indicator of economic activity and
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